Sole Proprietorship Taxation
How is a sole proprietorship taxed?
AThe business entity is taxed on its profits, and the owner also pays personal income tax.
BNone of the above
CThe owner pays personal income tax on business profits, but the business entity is not taxed separately.
DThe business entity is taxed on its profits, but the owner does not pay personal income tax.
ENeither the business entity nor the owner is subject to income tax.
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